Iran Plans Tenders for Oil Fields This Summer as Contract NearsBloombergIran plans to issue tenders to develop its oil fields this summer as the government is expected to approve a new model oil contract designed to attract investors “in a short amount of time,” Oil Minister Bijan Namdar Zanganeh said, according to an …

Iran’s Oil Production Is Slowing FastOilPrice.comA major part of the fall in oil prices last year was driven by concerns over the rising production levels of Iran. With nuclear sanctions in place, Iran had been forced to significantly curtail production due to lack of buyers. Once those sanctions …

Low Oil Prices See China’s Oil Output Shrink 7.4%OilPrice.comChina produced 7.4 percent less domestic crude oil in May compared to a year ago, settling at 16.76 million tonnes. This was due to plans by state-owned oil companies to slash output that is weighed down by languishing oil prices, official data showed.

Fracking jobs show signs of life in BakkenINFORUMBesler, who also does some financial consulting, said he’s also getting more requests from potential investors interested in investing in technologies and oilfield completions. “That’s going to be crucial to activity picking up,” Besler said. … An …

Russia’s giant Vankor oilfield reaches peak production level: ONGCEconomic TimesNEW DELHI: Russia’s giant Vankor oilfield, where Indian state oil firms are acquiring a significant stake, has reached peak production level, but technology to increase oil recovery will optimise the output and delay its decline, the head of ONGC’s …

The Oil Industry Needs To Change Its Strategy And FastOilPrice.comIn her layman understanding she said that the U.S. shale oil boom had caused oil prices to collapse. Being in the oil and gas profession I knew about shale oil and I recalled that in 2012 I wrote an article entitled: “The US unconventional oil …

Private Equity Ready To Jump Back Into OilOilPrice.comPrivate equity (PE) funds are warming up to the idea of investing in the oil and gas sector, on the prospects of higher oil prices in the future. While the PE funds had enough firepower to invest in 2015, they lacked confidence in the market …

Oil price hike seen this weekGMA NewsOil companies are likely to impose adjustments in the prices of petroleum products this week. Citing oil industry sources, “Balitanghali” on Sunday reported that the looming price adjustment is due to the movement of crude oil prices in the world market.

Railroad Commission should embrace EPA methane rulesmySanAntonio.comThe Texas Railroad Commission — charged with overseeing the state’s oil and gas industry — is asking the Texas attorney general to sue the EPA over rules to control methane emissions, despite the fact that the rules fit the values in the RRC’s …

Wanted: State records for oil spillsmySanAntonio.comThe El Paso Times has reported that neither the Texas Railroad Commission nor the state’s Commission on Environmental Quality appears to have a handle on such data. In the case of the Railroad Commission, which “regulates” the oil and gas industry, the …

Fracking jobs show signs of life in BakkenBismarck TribuneBesler, who also does some financial consulting, said he’s also getting more requests from potential investors interested in investing in technologies and oilfield completions. “That’s going to be crucial to activity picking up,” Besler said. … An …

Oil Prices: Here Come the BullsMotley FoolIt was not all that long ago that oil prices were cratering, causing analysts to make dire predictions about where crude might bottom. Morgan Stanley, for example, thought crude could crash to just $20 a barrel in a bearish call made in January …

How Digital Technology Will Change Oil And Gas CompaniesForbesBy Riccardo Bertocco, Lodewijk de Graauw and Dmitry Naberezhnev. Unlike other industries that are enjoying a sudden embrace of benefits from data, the oil and gas sector is well acquainted with analytics. For decades, energy companies have relied on …

Oil field worker died from fall in workover rig explosionBillings GazetteWATFORD CITY, N.D. — An autopsy shows that an oil field worker who died last Saturday was killed as the result of a fall, the second time a worker for the same company has been hurt in a fall in the past eight months. State Forensic Medical Examiner …

Gazprom Expects Profits To Triple Despite Low Oil PricesOilPrice.comKruglov noted, “The decline in global energy prices is putting pressure on the financial results of all oil and gas companies across the world, and Gazprom is no exception… The expected decline in profitability is primarily caused by a deterioration …